Oil climbs towards $68 ahead of US gasoline data

LONDON, Apr 25 (Reuters) Oil rose towards a barrel on Wednesday before weekly U.S. data that are expected to show an 11th straight drop in gasoline stocks ahead of peak summer demand in the world's top consumer.

London Brent crude, for the moment seen as a more accurate reflection of world oil prices than U.S. crude, rose 51 cents to .67 at 1100 GMT after a 99-cent drop the day before.

U.S. crude was up 27 cents at .85.

''U.S. refineries are ramping up ... but the feeling is they are not going to keep up with demand,'' said Mark Waggoner, president of Excel Futures in Huntington Beach, California.

Gasoline stocks in the world's biggest consumer are expected to have slipped by 0.4 million barrels, according to a Reuters poll of industry analysts, deepening a 13-percent slide in stock levels since early February amid refinery outages.

''...with continued reports of U.S. refinery glitches, it is clearly gasoline against the world,'' said Olivier Jakob of Swiss-based oil consultancy Petromatrix.

Oil prices initially surged this week after Nigeria's ruling party candidate Umaru Yar' Adua was declared the winner of a weekend presidential poll that observers and opposition groups said was manipulated, fanning fears of more violence.

Nigeria has lost 600,000 barrels per day (bpd) in oil production since the rebel Movement for the Emancipation of the Niger Delta (MEND) attacked oilfields in the western delta in February 2006.

But Nigerian officials say oilfields pumping more than half that volume will be restarted by the end of May.

The dispute between the West and OPEC producer Iran over its nuclear programme offered further support.

The EU and Tehran are to discuss on Wednesday whether the Islamic republic might be prepared to suspend nuclear activity after being slapped with more sanctions.

But Iran has vowed not to retreat despite world pressure.

REUTERS PYB HT1710